India's paid music subscriptions to hit 28–30 mn by 2028: EY-IMI report
Synopsis
India has 14 million paid music subscribers against a backdrop where 96% of smartphone users listen to music daily — a gap that an EY-IMI report says could narrow to 28–30 million subscribers by 2028. The catch: 39% of users say they would turn to piracy rather than pay, even if free alternatives vanished.
Key Takeaways
India had approximately 14 million paid music streaming subscriptions in 2025 , according to an EY-IMI report released on 24 July .
The subscriber base is projected to reach 28–30 million by 2028 , driven by product innovation and evolving consumer preferences.
96% of smartphone users listen to music, yet only 38% have ever paid for a music streaming service.
86% of respondents have paid for a video OTT service at some point, highlighting a sharp video-versus-audio monetisation gap.
61% of the 15,000+ surveyed users would pay for streaming if free alternatives disappeared and pricing was fair; 39% would resort to piracy instead.
Blaise Fernandes , President of IMI , called for India to shift from a passive consumer market to an active patron's market.
India had approximately 14 million paid music streaming subscriptions in 2025, and that figure is projected to nearly double to 28–30 million by 2028, according to a joint report released on Friday, 24 July by EY and the Indian Music Industry (IMI). The growth, the report notes, will hinge on product innovation, strategic partnerships, and shifting consumer preferences.
A Consumption-Monetisation Gap
Despite music ranking among the most consumed forms of digital entertainment in India, paid streaming remains, in the report's own words, 'significantly underpenetrated.' The data underscores the paradox: 96 per cent of smartphone users listen to music, and four out of five listeners spend more than one hour daily on audio content — yet monetisation lags far behind engagement.
The consumption-to-payment gap is stark. While 86 per cent of survey respondents reported having paid for a video OTT service at some point, only 38 per cent said they had ever paid for a music streaming service. The widespread availability of free alternatives and limited differentiation between free and premium tiers continue to suppress subscription uptake.
What the Survey Found
The report draws on a survey of more than 15,000 smartphone users across India. It found that 61 per cent of respondents would be willing to pay for music streaming if free alternatives were no longer available and pricing was reasonable. However, a significant 39 per cent said they would still not pay — and would instead turn to pirated sources or other free channels.
Dedicated music streaming platforms remain the preferred destination for structured listening, with 60 per cent of respondents using digital service providers for music consumption. Discovery, however, is increasingly driven by short-form video and social platforms, reshaping how users first encounter and then engage with music services.
What the Industry Said
Blaise Fernandes, President of the Indian Music Industry (IMI), said India must transition from being a passive consumer market into an active patron's market in order to take Indian music global and uncover the next generation of talent.
Why This Matters
India's music streaming trajectory mirrors broader digital monetisation challenges across emerging markets — high engagement, low willingness to pay, and a free-tier dependency that is structurally difficult to break. This is the context in which the 28–30 million subscriber target by 2028 must be read: achievable, but contingent on platforms offering meaningfully differentiated premium experiences. With short-form video platforms accelerating music discovery, the competitive dynamic between social apps and dedicated streaming services will be a key variable to watch over the next three years.
Point of View
Music not — suggests the issue is not affordability but perceived value. Platforms have trained users to expect music free, and the 39% who say they would turn to piracy rather than pay even under a hypothetical no-free-tier scenario is a warning sign that cannot be papered over with subscriber growth projections. The 28–30 million target by 2028 is plausible, but it requires premium tiers to offer something free simply cannot — exclusive content, artist access, superior audio quality — rather than a marginal upgrade. Without that, the gap between India's music consumption and its music monetisation will remain one of the most glaring anomalies in the global streaming market.
NationPress
24 Jul 2026
Frequently Asked Questions
How many paid music subscriptions does India currently have?
India had approximately 14 million paid music streaming subscriptions in 2025, according to a joint report by EY and the Indian Music Industry (IMI) released on 24 July. This figure is expected to grow to 28–30 million by 2028.
What is driving the projected growth in paid music subscriptions?
The EY-IMI report attributes the projected growth to product innovation, strategic partnerships, and evolving consumer preferences. Discovery through short-form video and social platforms is also reshaping how users engage with dedicated music streaming services.
Why do so few Indians pay for music streaming despite high consumption?
The report points to the widespread availability of free alternatives and limited differentiation between free and premium offerings as the primary barriers. Only 38% of respondents have ever paid for a music streaming service, compared to 86% who have paid for a video OTT service.
What share of users would pay if free music disappeared?
61% of the more than 15,000 smartphone users surveyed said they would be willing to pay for music streaming if free alternatives were unavailable and pricing was reasonable. However, 39% said they would still not pay and would instead turn to pirated or other free sources.
Who is affected by the low monetisation of music streaming in India?
The monetisation gap affects music streaming platforms, independent artists, and the broader music industry ecosystem. IMI President Blaise Fernandes has argued that closing this gap is essential for taking Indian music global and discovering the next generation of talent.
